VW brand must become significantly more efficient - CEO
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FILE PHOTO: A car with the Volkswagen VW logo badge is seen on display at the North American International Auto Show in Detroit, Michigan, U.S., January 16, 2018. REUTERS/Jonathan Ernst/File Photo
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Jonathan Ernst(Reuters)
HAMBURG (Reuters) – The VW brand needs higher profits and must become significantly more efficient to be able to finance its future, Volkswagen <VOWG_p.DE> group Chief Executive Herbert Diess told the brand’s staff magazine.
A return on sales of 4 percent is the minimum needed, 5 to 6 percent would allow the company to make a few investments, and with 7 or 8 percent we would make it resistant to crises, staff magazine inside on Wednesday quoted Diess as saying.
(Reporting by Jan Schwartz, Writing by Tassilo Hummel)
